When it comes to the STR game, differentiation is critical, and that can be challenging with a 550 square foot oceanfront condo. 

Securing financing is often one of the biggest challenges new real estate investors face.

I am currently working on phase 2; building 2 ADUs.The permits are already in the works but the biggest question is what is the best approach when funding these 2 ADUs BEFORE I have the equity from my home?

Challenges?

When it comes to finding good wholesalers, a few approaches have worked well for me and others in the industry:1.Local Networking & Meetups:Check out local real estate investor associations and networking events in the Akron/Cleveland area.

Insurance was a huge challenge, but BiBerk (a Berkshire Hathaway company) was willing to write a policy for us. 

What was that challenge like?

Conceptually you want to take an approach that minimizes your need to be on site - and for that reason I would advise against BRRRR.

When you approach sellers with this mindset, you’ll go from “just another investor” to the trusted local expert who gets the deal done—time and time again. 

It's all in how conservative you are in your approach to underwriting your deals.Even when a Seller says they've improved the property, the tenants are still tenants and do damage to brand new improved units.